X0201 42003-09-290 0001193558 AMERICAN FINANCIAL REALTY TRUST AFR 0001219334 KRAEMER RICHARD A C/O AMERICAN FINANCIAL REALTY TRUST 1735 THE FAIRWAY JENKINTOWN PA 19046 1000Common Shares2003-09-294A0200000.001A55000DConsists of restricted common shares awarded pursuant to the American Financial Realty Trust 2002 Equity Incentive Plan, as amended and restated. These restricted common shares were awarded on September 29, 2003 and will vest 33.33% on each anniversary of the date of award.Includes 20,000 restricted common shares issued pursuant to the American Financial Realty Trust 2002 Equity Incentive Plan, as amended and restated. These restricted common shares were issued on September 10, 2002 and vest 33.33% on each anniversary of the date of issuance./s/ James W. McKenzie, Jr. By: James W. McKenzie, Jr. as attorney-in-fact for Richard A. Kraemer.2003-10-01